Blueshift Asset Management Slides Into 48,000 New Crocs Shares

What happened

According to a filing with the Securities and Exchange Commission dated Nov. 13, 2025, Blueshift Asset Management, LLC initiated a new position in Crocs (NASDAQ:CROX), acquiring 48,877 shares valued at $4.08 million as of Sept. 30. The new stake accounted for 1.3% of the fund’s reportable U.S. equity assets.

What else to know

Top holdings after the filing:

• SPDR S&P 500 ETF Trust: $27.3 million (8.4% of AUM)
• iShares Russell 2000 ETF: $18.6 million (5.7% of AUM)
• Crocs: $4.1 million (1.3% of AUM)
• Hertz Global Holdings: $2.9 million (0.9% of AUM)
• Sherwin-Williams: $2.9 million (0.9% of AUM)

As of Nov. 12, 2025, shares of Crocs were priced at $74.45, down 27.0% over the past year, underperforming the S&P 500 by 41.77 percentage points.

Company overview

Company snapshot

Crocs offers a diversified portfolio of casual footwear products, including clogs, sandals, slides, and accessories under the Crocs brand. The company generates revenue through a multi-channel model encompassing wholesale distribution, company-operated retail stores, and global e-commerce platforms.

Crocs targets a broad consumer base across men, women, and children in approximately 85 countries, with a presence in the Americas, Asia Pacific, Europe, the Middle East, and Africa. It sells its products in approximately 85 countries through wholesalers, retail stores, e-commerce sites, and third-party marketplaces.

Foolish take

It's been a tough year for Crocs shareholders. The company has struggled to gain value from the approximately $2.5 billion acquisition of casual footwear brand Heydude that closed in February 2022.

At the time of the deal, Crocs management expected the deal to be immediately accretive to its strong revenue growth. But it hasn't gone as planned. In this year's third quarter, Heydude revenue dropped nearly 22% to just $160 million.

Crocs stock has been punished for its decrease in sales growth. Shares are down about 18% year to date, and that is after a sharp rebound in the last month.

Blueshift Asset Management is an alternative investment manager that may have seen the rebound coming. It had enough conviction to make Crocs a top holding during the third quarter.

Whether the business has turned around remains to be seen. For now, though, Blueshift looks to have made a timely addition to its portfolio.

Glossary

Stake: The ownership interest or investment a fund or individual holds in a particular company.

Assets Under Management (AUM): The total market value of investments managed by a fund or asset manager.

Reportable U.S. equity assets: U.S. stocks that a fund is required to disclose in regulatory filings.

13F assets: Securities that institutional investment managers must report quarterly to the SEC on Form 13F.

Holding: A specific security or asset owned within an investment portfolio.

Wholesale distribution: Selling products in large quantities to retailers or distributors, rather than directly to consumers.

Multi-channel model: A sales strategy using multiple methods, such as retail, online, and wholesale, to reach customers.

Third-party marketplaces: Online platforms operated by companies other than the product's manufacturer, where goods are sold to consumers.

TTM: The 12-month period ending with the most recent quarterly report.

Howard Smith has no position in any of the stocks mentioned. The Motley Fool recommends Crocs and Sherwin-Williams. The Motley Fool has a disclosure policy.